UK’s top accounting watchdog wants more powers from parliament following KPMG-HBOS probe November 30, 2017 The top accounting watchdog in the UK has called for accountants to be held to higher standards when auditing companies, after a probe into KMPG’s audits of HBOS in the run-up to the lender’s collapse failed to find the accountant guilty of misconduct. Read more: KPMG has been cleared of wrongdoing over its 2007 HBOS [...]
Mind the skills gap: A plan to future-proof the UK workforce November 30, 2017 How do we close the skills gap in this country? At the recent World Skills competition and conference in Abu Dhabi, I learnt that this is not just a UK problem, but also one faced by countries across the world. Addressing this imbalance sits front and centre of everything this government is trying to achieve [...]
Oil and gas contractors are the most confident they’ve been in four years November 30, 2017 For the first time since 2013, nearly half of oil and gas contractors in the UK Continental Shelf (UKCS) are confident about their prospects, a report to be published today suggests. Of the contractors surveyed, 49 per cent were more optimistic about their activities in the current year, up from 38 per cent in the [...]
Wizz Air eyes bigger expansion in London as it secures collapsed airline Monarch’s Luton Airport slots November 29, 2017 Hungarian airline Wizz Air has secured a number of take-off and landing slots at Luton from collapsed airline Monarch. It announced today it will add two aircraft to its fleet at London Luton, taking its total at the airport to seven, saying more routes will be unveiled in due course. Read more: British Airways owner [...]
British Airways owner IAG snaps up Monarch Airline Gatwick slots November 27, 2017 The owner of British Airways has beaten off the competition to secure Monarch Airline’s Gatwick take-off and landing slots. IAG has snapped up the majority of the slots from the collapsed carrier at Britain’s second busiest airport, according to sources familiar with the situation. The sale, by Monarch administrator KPMG, follows last week’s Court of [...]
Markets roundup: Speculation lifts Paddy Power, while Carillion continues to struggle November 24, 2017 Black Friday is drawing to an end. The day has seen record spending on Barclaycard and all-time-high numbers on Argos’s website, though KPMG today warned of the impact discounting could have on retailers. Read more: Black Friday 2017: Purchases hit a record high this lunchtime, according to Barclaycard Although they may have been in the [...]
Coincidence? Retailers’ profit margins have been squeezed since Black Friday hit UK shores, KPMG reveals November 24, 2017 The Black Friday phenomenon seems to be sticking around in the UK, as more and more retailers have extended offers on both sides of the big day. But there could be a darker side to the shopaholic frenzy, according to KPMG. Data compiled by the accountancy firm has found that profit margins of the UK’s [...]
Builders and headhunters under financial pressure as insolvencies edge up – but there could be hope for retailers November 10, 2017 The number of firms collapsing into administration rose in the third quarter, according to notices filed with the Britain’s official public record. Analysis of the London Gazette revealed some 302 companies appointed administrators during the third quarter, up from 297 in the second quarter and 295 in the same period 12 months ago. The steady [...]
Monarch Airlines administrator KPMG vows to appeal “disappointing” lost High Court ruling over £60m airport slots November 8, 2017 KPMG, the administrator of doomed airline Monarch, has vowed to fight on after today losing a legal battle to sell take-off and landing slots believed to be worth as much as £60m. High Court judges this morning supported an earlier decision by Airport Coordination Limited – an independent slot coordinator – that the airline did [...]
Rivals PwC Deloitte and EY circle KPMG’s position as Bank of England auditor November 4, 2017 The Bank of England is reportedly seeking a new auditor, in a move which could see it part company with KPMG. Rivals are gearing up to take the role from KPMG according to Sky News. The firm has been the auditor for the central bank for a decade, having been brought in just before the [...]